8 results
10-K
2023 FY
Howard Hughes Holdings Inc.
27 Feb 24
Annual report
4:08pm
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
thousands | 2023 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | Net income (loss) | $ | (551,530) | $ | 184,636 | $ | 48,924 | Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | Depreciation | 195,630 | 180,201 | 185,418 | Amortization | 16,839 | 16,834 | 16,891 | Amortization of deferred financing costs | 12,303 | 10,754 | 10,301 | Amortization of intangibles other than in-place leases | 3,275 | 3,275 | 2,843 | Straight-line rent amortization | (7,680) | (8,468) | (9,278) | Deferred income taxes | (163,843) | 42,022 | 10,356 | Restricted stock and stock option amortization | 16,394 | 11,895 | 9,885 | Net gain on sale of properties | (24,162) | (29,687) | (53,057) | Net gain on sale of unconsolidated ventures | — | (5,016) | — | (Gain) loss on extinguishment of debt | 144 | 2,377 | 38,014 | Impairment charges | 672,492 | — | 15,335 | Equity in (earnings) losses from unconsolidated ventures, net of distributions and impairment charges | 66,676 | 28,081 | 52,390 | Provision for doubtful accounts | 8,601 | (2,235) | (2,027) | Master Planned Community land acquisitions | — | — | (574,253) | Master Planned Community development expenditures | (403,633) | (396,125) | (322,255) | Master Planned Community cost of sales | 126,167 | 111,723 | 144,933 | Condominium development expenditures | (472,666) | (340,793) | (345,289) | Condominium rights and units cost of sales | 53,156 | 465,711 | 394,427 | Other | 1,319 | — | — | Net Changes: | Accounts receivable, net | 112,048 | 83,443 | 30,594 | Other assets, net | (19,615) | (33,078) | (17,140) | Condominium deposits received, net | 88,595 | 21,273 | 59,108 | Deferred expenses, net | (27,037) | (30,441) | (22,903) | Accounts payable and other liabilities | 38,045 | 8,872 | 42,825 | Cash provided by (used in) operating activities | (258,482) | 325,254 | (283,958) | CASH FLOWS FROM INVESTING ACTIVITIES | Property and equipment expenditures | (7,340) | (2,004) | (1,814) | Operating property improvements | (56,320) | (54,715) | (35,915) | Property development and redevelopment | (275,084) | (353,098) | (274,742) | Acquisition of assets | (5,898) | — | — | Proceeds from sales of properties, net | 39,543 | 81,720 | 322,451 | Reimbursements under tax increment financings | 1,469 | 127 | 667 | Distributions from unconsolidated ventures | 13,014 | 207,685 | 92,060 | Investments in unconsolidated ventures, net | (45,527) | (100,410) | (1,249) | Cash provided by (used in) investing activities | (336,143) | (220,695) | 101,458 |
10-K
m25bgphc0hd
27 Feb 24
Annual report
4:08pm
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27 Feb 24
Annual report
4:08pm
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27 Feb 24
Annual report
4:08pm
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